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Midwest Funding Roundup: Heyday Raises $550M

The Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release ([email protected]), 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are actively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar. 

What a crazy week in the Middle.  More than $550M was deployed into startups in the Midwest.  And many ecosystem builders can be proud this week.  Wichita had a double dip.  Lincoln had a couple.  And Chicago, Columbus, and St. Louis had multiple strong raises.  In other words, this week highlighted the true strength of the middle. But, this is a week for Minnesota.  The Minneapolis metropolitan area had eight rounds finalized this week.  In those rounds more than $100 million was deployed into the ecosystem.  There were multiple individual angels involved and nine separate funding organizations.  These organizations came from China, Massachusetts, New York, North Carolina, and Georgia. Having a strong ecosystem means outside investment that leads to jobs.  These investments in Minnesota are likely to lead to more than 200 jobs and possibly as many as 500.  And usually, these jobs are high-paying, highly skilled ones.  Look for the companies that show up on these lists to be the leaders in your community over the next decade – not just a flash in the pan announcement.

Large Round
Heyday$550M ChicagoIllinois
Geneoscopy$105M Saint LouisMissouri
Sermonix Pharmaceuticals$40M ColumbusOhio
4C Medical$35.3M Maple GroveMinnesota
Branch$25M MinneapolisMinnesota
FlexCompute$22.5M MadisonWisconsin
Avivomed$20.1M MinneapolisMinnesota
Alpheus Medical$16MOakdaleMinnesota
Cohesion$15M ChicagoIllinois$10M ChicagoIllinois
Series A ($2M to $10M)
Landscapes Unlimited$8.3M LincolnNebraska
NovaScan$8M ChicagoIllinois
Marani$7.6M OakdaleMinnesota
Plastomics$7.1M Saint LouisMissouri
Unhedged$5.5M HaysKansas
The Small Exchange$5M ChicagoIllinois
Hodei Technology$4.5M FishersIndiana
ParaGen Technologies$4.5MDublinOhio
Onyx 7$4.2M IndependenceMissouri
Swapay It$4.2M ChicagoIllinois
Bzaar$4M Gross PointeMichigan
Lentechs$3.6M ColumbusOhio
Shaker$3.4M IndianapolisIndiana
Itiliti Health$3M Eden PrairieMinnesota
Adze Biotechnology$2.6M Oak ParkIllinois
Cypher$2.1M ChicagoIllinois
Leap Services$2M ChicagoIllinois
Early Stage ($500k to $2M)
Varuna$1.8M ChicagoIllinois
Oculogx1.7M BentonvilleArkansas
Ox$1.7M FayettevilleArkansas
Stagetime$1.8M BloomingtonIndiana
QuickHIre$1.4M WichitaKansas
EnCapA$1.3M CantonOhio
AwardSpring$1.2M ChicagoIllinois
Vergent Bioscience$1.2M MinneapolisMinnesota
Lemoptik$.9M Washington IslandWisconsin
Seed Stage (0 to $500k)
Bumper$.5M LincolnNebraska
Mazen Animal Health$.13M Saint LouisMissouri
Magwerks Vision$.13M OxfordMichigan
Knowledge as a Service$.11M WichitaKansas
Lola’s Fine Hot Sauce$.1M West Des MoinesIowa
Maalexi$.1M EdmondOklahoma
Noble Story$.07M Grand RapidsMichigan
N-Sense$.05M AmesIowa
EarthSense$.05M ChampaignIllinois
Delve Health$.04M MinneapolisMinnesota
NanoSpy$.03M AmesIowa
Plantidote$.03M ChicagoIllinois
Closet Switch$.01M Saint LouisMissouri


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